Give correct solution for this following requirements on these general accounting question A traveling production of The Phantom of the Opera performs each year. Onaverage, each show sells 1,500 tickets at $60 per ticket. There are 100 showsannually. The cast consists of 50 members, each earning an average of $400 pershow, with payments made after each performance. Additionally, the showincurs a variable expense of $8 per program for each guest. Annual fixedexpenses total $1,500,000.Requirements:1. Compute the revenue for each show.2. Compute the variable expenses for each show.

1. Compute the revenue for each show Revenue per show is calculated as the number of tickets sold…

Answered: A traveling production of The Phantom…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected costs for the event: Dinner (per person) $ 11 Favors and program (per person) $ 2 Band $ 1,140 Rental of ballroom $ 570 Professional entertainment during intermission $ 760 Tickets and advertising $ 1,330 The committee members would like to charge $32 per person for the evening’s activities. Required: 1. What is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. Assume that last year only 100 persons attended the dinner-dance. If the same number attend this year, what price per ticket must be charged in order to break even? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
Required information Use the following information for the Quick Studies below. (Static) (The following information applies to the questions displayed below) On January 1, the Matthews Band pays $65.800 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $2.000. During the first year, the band performs 45 concerts QS 8-5 (Static) Units-of-production depreciation LO P1 Compute the first year depreciation using the units of production method. Select formula for the depreciation rate of Units of Production Calculate the first year depreciation expense Depreciation per concert Concerts in first year Depreciation in first year
Consider the following tickets purchasing problem. A businessperson has a 5-week. commitment traveling between Fayetteville (FYV) and Denver (DEN). Weekly departure from Fayetteville occurs on Mondays for return on Wednesdays. A regular roundtrip ticket costs $400, but a 20% discount is granted if the roundtrip dates span a weekend. A one-way ticket in either direction costs 75% of the regular price. i In the tickets example, (a) Provide an infeasible alternative. (b) Identify a fourth feasible alternative and determine its cost.
G
Summit Incorporated operates a concert series that has monthly fixed expense of $7,000. In addition, the company pays distributors $4.00 per ticket sold. The following chart shows the number of tickets Summit expects to sell during the year. January February March 1,200 1,000 1,100 April May June 600 1,100 1,000 Assume Summit wants to earn $5.00 per concert attendee. How much should the company charge for a ticket in January? July August September October November December Total 1,700 1,100 900 1,000 500 800 12,000
The College is planning a concert. Maximum capacity for the concert venue is 3,000. tickets will be sold for $25 per ticket. The college estimates that costs of producing the concert to be 2,500 plus the cost of the band. Alternative A a fee of $8,000 and $5 per tickets; or Alternative B - $8.00 per ticket sold Question 1. If you expect to see 3,000 tickets, which alternative produces the highest profit?
An entertainment center is financed at a total cost of $2,343.47 including a down payment of $300. If the center is financed over 24 months, find the monthly payment. The monthly payment is $ (Round to the nearest cent as needed.)
A local theater company sells 1,000 season ticket packages at a price of $255 per package. The first show in the ten-show season starts this week. (a) The sale of the season tickets before the first show. (b) The revenue earned after putting on the first show.
The maintenance and operations costs for a piece of equipment are estimated to be $300 the first month and increase by $30 per month over the equipment's 3 year life. For budgeting purposes, the owner wants to set aside a uniform amount each month to cover the maintenance and operations costs of the equipment. If the owner can invest at 4% per year, compounded monthly, what amount should he invest each month? Express your answer in $ to the nearest $10.
Atlas Moving and Storage wants to have enough money to purchase a new tractor-trailer in 4 years at a cost of $290,000. If the company sets aside $4000 in month 1 and plans to increase its set aside by a uniform amount each month, how much must the increase be provided the funds earn 6% per year compounded monthly?
Franklin Camps, Incorporated leases the land on which it builds camp sites. Franklin is considering opening a new site on land that requires $2,450 of rental payment per month. The variable cost of providing service is expected to be $6 per camper. The following chart shows the number of campers Franklin expects for the first year of operation of the new site: January February March 150 260 210 February August April 210 Price May 330 June 510 Required Assuming that Franklin wants to earn $7 per camper, determine the price it should charge for a camp site in February and August. Note: Do not round intermediate calculations. July August September October November December Total 660 660 360 390 150 310 4,200
A concert organizer agrees to pay the owner of an auditorium 26% of the ticket sales. The organizer manages to sell 2,800 tickets at $60 each. If the organizer makes a profit of $6,600, what was the total cost of holding the concert? (Round your answer to the nearest dollar amount.) Total cost ($): Numeric Response 50,280

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